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The idea of a tax credit for companies that create new jobs, something the federal government has not tried since the 1970s, is gaining support among economists and Washington officials grappling with the highest unemployment in a generation. The proposal has some bipartisan appeal among politicians eager both to help their unemployed constituents and to encourage [...] During last year’s campaign, President Obama vowed to enact a bold agenda without raising taxes for the middle class, a pledge budget experts viewed with skepticism. Since then, a severe recession, massive deficits and a national debt that is swelling toward a 50-year high have only made his promise harder to keep. The Obama administration has [...] NYT President Obama said Wednesday that he was receptive to Congressional proposals that would require every American to have health insurance and that would force employers to offer health insurance to their employees. But he said there should be exemptions for people who cannot afford coverage and for small businesses in general. Combine this with the Congressional [...] Presented without comment. Updating some research from Richard Vedder of Ohio University, we found that from 1998 to 2007, more than 1,100 people every day including Sundays and holidays moved from the nine highest income-tax states such as California, New Jersey, New York and Ohio and relocated mostly to the nine tax-haven states with no income [...] Senate leaders are considering new federal taxes on soda and other sugary drinks to help pay for an overhaul of the nation’s health-care system. The taxes would pay for only a fraction of the cost to expand health-insurance coverage to all Americans and would face strong opposition from the beverage industry. They also could spark a [...] I’ve heard a number of people compare the $250K “cutoff” for Obama’s tax increases to the $250K cutoff under the Clinton administration. Putting aside the fact that Obama’s spending proposals could not be paid for by a 100% tax on people who earn over $250K, I just want to remind our audience about the pernicious [...] The Obama budget is everything we were afraid it would be. Spend, spend, spend and tax the “rich” to pay for it. Except he’s not really paying for it, he is planning on the biggest deficit in history: $1.17 trillion. That’s $3.55 trillion in spending, minus $2.38 in revenue, equals $1.17 trillion. Of course, spending is [...] |
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